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Healthcare is one of the most dynamic application of cloud computing. Although healthcare organizations are highly concerned about the privacy and security of patient data, the pressure of controlling the increasing healthcare expenditure has driven the adoption of cost effective solutions such as cloud computing. There has been a surge of interest of the healthcare companies in adoption of cloud computing. Companies are leveraging cloud providers for various benefits such as providing business agility, reducing cost, and so on. The major drivers are shift in focus of healthcare from generalized care to personalized care, limited IT budgets of healthcare organizations, and growing big data in healthcare industry. However, various legal barriers and government regulations are major restraint for the market.
Cloud Computing has clinical and non–clinical applications in healthcare. However, clinical applications such as Electronic Medical Records (EMR), Laboratory Information Systems (LIS), Pharmacy Information Systems (PIS), Picture Archiving and Communication Systems (PACS) and Bioinformatics dominates the market contributing to 80% of the total market. The report focuses only on Clinical Information System (CIS) applications. Among the various CIS applications EMR dominates the market with 37% market share in 2014.The global cloud healthcare market is expected to have a CAGR of 24.5% during the forecast period 2016-2023.
In the present scenario, increase in the adaptability of EMR considering both the public and private sector is acting as key trend in the cloud computing healthcare market. The electronics medical device stores the data and acts as a base to provide information in real time entity.
The major factors driving the global cloud computing healthcare include:
The ability of an organization to adapt rapidly and cost efficiently the changes in its environment is known as business agility. Healthcare services have now become more data driven and are required to maintain huge data for which increased IT services and infrastructure are needed. There is a constant increase in adoption of EMR, EHR, personal health records (PHR), and technologies related to integrated care, patient safety and clinical records as they are cost effective, manageable, require less in-house IT infrastructure, and lead to quality healthcare services. cloud computing allows organizations to adapt this business model quickly and cost effectively and connect and share information more flexibly across the value chain.
Source: OBRC Analysis
The report is widely segmented on the basis of application, delivery models, service models, pricing model, component and end users. Application is further segmented into:
Delivery model is sub-segmented into:
Service model is sub-segmented into:
Pricing model is sub-segment into:
Component is sub-segmented into:
Geographically, the global Smart security market is segmented into:
The revenue for the above application segment is specific to the cloud computing market. However, the total revenue of these applications in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up component segment.
Among the cloud service models, software as a service based cloud model dominated the market with 65% market share in 2014. Extensive use of cloud services for analysis of healthcare data and in non-CIS applications are the major driver for SaaS based cloud services. However, the future healthcare industry is expected to adopt platform as a service model growing at a CAGR 28.7% (2016-2022). Among the deployment models Private cloud leads with 40% market share. However, hybrid is the future for the healthcare industry with the CAGR of 26.4% (2016-2023).
North America dominated the cloud computing healthcare market with a 45% market share in 2014. Various government initiatives in the region for digitization of healthcare data is the major driver for the region. However, Asia Pacific is estimated to grow at a highest CAGR of 25% during the forecasted period. The APAC market is driven by rapidly increasing patient data due to rising medical tourism in Asian countries such as India and Thailand.
The major market players of the global smart security market are:
Detailed analysis of these companies provided in this report comprises of overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
These companies use various strategies such as mergers & acquisitions, collaboration, partnership and product launching. For example: IBM Watson acquired Truven health analytics in 2016. Truven health analytics is a provider of cloud based healthcare data. By this acquisition IBM housed large collection of health related data.
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At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global cloud computing healthcare market offers the longest chain of market segmentation covering major market segmentation based on products and end users. The report tracks the major market trends in the global cloud computing healthcare market such as growth and innovations in products & equipment’s and rising demand for technically progression & diagnosis of diseases and so on. For each market segments covered in global Cloud computing healthcare report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the Cloud computing healthcare industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global cloud computing healthcare market are as follows: